Worldpay enters Chinese software export market with Wondershare
- Payments , Infrastructure
- 27.08.2015 01:00 am
Wondershare, the Chinese software industry’s largest exporter by volume, has chosen global payments leader, Worldpay, for its complete payments infrastructure. The move will help Wondershare to improve payment acceptance in its priority markets, underpinning its ambitious global expansion plans. Wondershare was particularly keen on achieving low acceptance risk, a requirement other payment providers were unable to deliver. Worldpay has helped the company to analyse its payments data and use this information to optimise acceptance rates. The suite of Worldpay solutions is also highly customisable, allowing Wondershare to develop separate policies for payment acquiring, ecommerce, and fraud, and tailor these according to the needs of local markets. Since working with Worldpay in early April, Wondershare has already seen its payments acceptance rate increase by 30%. Mr. Sun, Chief Financial Officer at Wondershare said: “The improvements we’ve seen in our payments acceptance in such a short period of time clearly indicate that we made the right choice in partnering with Worldpay. Online customers have little patience for an inefficient shopping experience, and the changes we’ve made will help ensure that their interactions with us are as simple and convenient as possible. With our sights set on expanding into a number of new markets this year, our improved acceptance rates will help solidify our position as a leading software provider on the global stage”. Wondershare is looking to build its presence in Japan, Brazil, and Russia, while also bolstering its already-strong foothold in both the US and Europe. As the only international payments company with an acquiring license in Japan, Worldpay is ideally placed to help Wondershare make a seamless entrance into the market. Worldpay’s global experience and familiarity with regional policies and alternative payment methods around the world will also help smooth Wondershare’s expansion into other foreign markets. Tang Kok San, VP of Business Development in China at Worldpay said: “Working with the Chinese market leader in software exports marks a milestone for us in Asia Pacific. In one fell swoop, we’ve differentiated ourselves from our competitors with a more customisable offering that almost instantly delivers tangible improvements for our customers. Combining this with our firmly established international presence and ability to support a wide range of payment methods, we are well positioned to help businesses in China boost their local sales and develop strong payments strategies for abroad”.